41 Hour Candles to Break-Even or Dick Us Around Again.
This is a follow up chart from earlier last week. This time I will not be entering this position, only to make 2 predictions based on previous experiences. I noticed two, 41x 1 hour bars worths of price action before a break-even or better. One spike instance is anomaly. Two occurrences is a coincidence. The expected third could be a pattern.
Based on the chart, I plotted 2 outcomes.
1. Green: The end of day price action on the 04/21 due to expected earnings and analysts reports, results in a positive outcome over the 41 bars. It will test the $12.40 resistance and very likely break it and surge beyond before retracing, but ultimately end positive from T+1h bar.
2. Magenta: Despite positive fundamentals or catalysts, price action sells off or hedge funds sell off, as a result dicking the independent trader for another week in the slumps. This will likely drop off to the lower support levels and test $11.95 and dance at $12.05 +- 0.10c for the remainder of the 41 bars, before retracing back up the monthly trend line (in blue).
Overall, I would project a break even or +-.10c from the $12.37 close today.
Based on the chart, I plotted 2 outcomes.
1. Green: The end of day price action on the 04/21 due to expected earnings and analysts reports, results in a positive outcome over the 41 bars. It will test the $12.40 resistance and very likely break it and surge beyond before retracing, but ultimately end positive from T+1h bar.
2. Magenta: Despite positive fundamentals or catalysts, price action sells off or hedge funds sell off, as a result dicking the independent trader for another week in the slumps. This will likely drop off to the lower support levels and test $11.95 and dance at $12.05 +- 0.10c for the remainder of the 41 bars, before retracing back up the monthly trend line (in blue).
Overall, I would project a break even or +-.10c from the $12.37 close today.
Komen:
So far it is favoring Magenta. Dickish.
Komen:
Tracking within target, but it appears to have trouble breaking $12.37 to .38. Magenta.
Komen:
6 more bars. 6 hours of trading on Friday, 04/29/16. If it does not break resistance, it can be safely established that this will trade beta neutral for the next week; $11.95 lower bounds support.
